2007 Press Release
Saudi Minister of Finance Launches SaudiEDI Project in Partnership with CrimsonLogic to Serve the Kingdom Digitally
28 November 2007, Singapore – Leading eGovernment solutions provider, CrimsonLogic has been engaged by the Public Investment Fund (PIF) under the Ministry of Finance in the Kingdom of Saudi Arabia to build its business and technology infrastructure, as well as operate its electronic trade (eTrade) project called SaudiEDI.
The 7-year-long project, worth about US$30 million, is now in operation at two major seaports (Jeddah Islamic port and Dammam port), which together contribute to about 35% of the total trade volume of the Kingdom. The system for Riyadh Airport and Riyadh Dryport (or railport) is in the final stages of implementation.
SaudiEDI, was officially launched by the Saudi Minister of Finance and Board Chairman of the Public Investment Fund, His Excellency Dr Ibrahim Bin Abdulaziz Al-Assaf, in Riyadh on Sunday November 25, 2007 .
“CrimsonLogic has been a valuable partner in our national initiative (SaudiEDI) to serve the Kingdom digitally. Through the domain knowledge and expertise shown, we have great confidence that CrimsonLogic will continue to be a positive contributor to the Saudi Arabian trading community,” said Dr Ibrahim Bin Abdulaziz Al-Assaf, Minister of Finance.
His Excellency Mr Mansoor Saleh Al-Maiman, Secretary General of PIF said, "Investments in technology especially for strategic eGovernment initiatives is one of our focus in PIF. We (CrimsonLogic and PIF) are forming this strong relationship to achieve our strategic objectives while maintaining the returns on investment."
Mr Faisel Saleh Al Mousa, General Director of SaudiEDI added, “CrimsonLogic possesses strong knowledge of global eGovernment trends and challenges. Together, we have built a world-class eTrade system and excellent customer service for the Kingdom of Saudi Arabia .”
Leong Peng Kiong, CEO of CrimsonLogic said, “With trade being the key economic contributor in the Middle East, CrimsonLogic is honoured to be engaged by PIF to build, operate and maintain this kingdom-wide eTrade system to serve the Kingdom’s trade sector. We are privileged to contribute to the Kingdom’s eTrade initiative to streamline and automate the international trade documentation process for the trading community in Saudi Arabia .”
SaudiEDI provides a suite of eTrade services customised to the needs of the trading community in the Kingdom of Saudi Arabia . It facilitates fast and transparent interactions between businesses and government (B2G) and among government agencies (G2G) to bring about significant time and cost savings for the trading community.